The Nigerian National Petroleum Company Limited has said it spent N100bn on refineries’ rehabilitation in 2021 and that funds were pumped into revamping the facilities on a monthly basis last year.
It disclosed this in a report on the funding performance of the oil firm from January to December 2021.
Although no refinery was mentioned in the report, Nigeria’s refineries had been under the management of NNPC, as the rehabilitation of one of the facilities, Port Harcourt Refining Company, had been ongoing.
The other refineries under the NNPC’s management include the Kaduna Refining and Petrochemical Company, as well as the Warri Refining and Petrochemical Company.
Written by: EaglesFM